corporation research ( walt disney)

The Walt Disney Company

Annual Report 2005

History Background

The Walt Disney Company was founded in 1923 and has remained at the forefront of family entertainment . Its humble beginnings trace back to the drawings of Walter Elias Walt ' Disney , after whom the company was named . It specializes in wholesome family entertainment , and largely devoted itself to the creation of animated features and cartoon series

In the 1950s , Walt conceived an idea for an amusement park which brought people into the animated world his company created . Armed with his humongous idea

, Walt sold several properties and borrowed money from his employees to establish WED (his initials , a company set to realize his risky venture . When the park finally opened in 1955 , it proved to be an instant hit . Since then , the company has added new dimensions to the concept of family entertainment , its main service thrust . Walt Disney passed away , but his company lives on , remaining faithful and committed to providing wholesome fun . The company now has 4 main business segments

Business Segments

The building block of the company is the Studio Entertainment unit , with Walt Disney 's animated features and live-action motion pictures at its center . These films are distributed through Walt Disney Pictures Touchstone Pictures , Hollywood Pictures , Miramax Films , and Buena Vista International , which handles global distribution . This unit also handles video sales and rentals , Broadway musical productions , and the sale and distribution of original music and movie soundtracks , through various subsidiaries

Walt Disney Parks and Resorts began in 1952 , when Walt Disney formed Walt Disney Imagineering to build the first Disneyland in Anaheim California . Today , the company has an impressive Disney Cruise Line seven Disney Vacation Club resorts , Adventures by Disney , and five resort locations with eleven theme parks in Florida , Japan , France and Hong Kong

In 1929 , Walt Disney was approached by a businessman who offered to put the company 's famous Mickey Mouse on the cover of a children 's writing tablet , which was the birth of Disney 's merchandising unit . This has grown over the years to include not only toys , but wearing apparel , home dycor , interactive games , books , electronics , fine art , and even food and beverages